I see no alternative but to open the SPR. The problem is that it is located in 4 places along the Gulf Coast, including near Baton Rouge and Lake Charles.
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Katrina a 5, Oil at?
- Thread starter protrader-2K5
- Start date
Quote from SethArb:
why was there a sharp selloff in the Crude oil
futures markets late friday ?
was this some type of gun the stops , or fade the
fear ( in case Katrina did not hit so hard ) ?
Assuming this is as bad or worse than
people thought late last week
what are the odds
we open or trade above 68 , 70 overnight in Crude ... or is the real fear / spike going to be in
Nat Gas ?
how often does the Nat "Cane" Center do updates ? hourly ?
There was a sell off because there was news that the storm was overated and it was officially downgraded.. recently it was upgraded and people are panicking... here comes the climactic blow off.
Quote from bestfriend:
I see no alternative but to open the SPR. The problem is that it is located in 4 places along the Gulf Coast, including near Baton Rouge and Lake Charles.
What do you think this would accomplish? It would be a short term fix, most likely very short term, at best.
Are you familar with the data released by the EIA each Wednesday?
damn should have bought that open
natural at $12!